Ulsan Port Examines LNG Bunkering Possibilities
- Business & Finance
South Korea’s City of Ulsan is planning to launch a preliminary feasibility study for the construction of an LNG bunkering station at the Port of Ulsan,Yonhap reports.
Once constructed, the station will enable LNG-powered vessels to re-fuel at sea without anchoring.
The city has identified the expected increase in LNG-powered vessels, as well as the steady demand for the fuel as the main reasons for exploring the possibility to build an LNG bunkering hub.
Going along those lines, the city is planning to sign a Memorandum of Understanding with Korea Gas Corporation (KOGAS) and Korean LNG Bunkering Consultative Group by the end of 2014.
The study, expected to last from January to October 2015, will incorporate demand for LNG bunkering at Ulsan port, international cases, related equipment, possible size and position of the station, and cost-competitive advantages.
At the moment, Ulsan is conducting a preparatory research focussing on the current demand for LNG.
World Maritime News Staff; Image: Odfjell